Premier will meet with McCormick

1 Apr 2016

The board of Premier Foods announced that it had noted the revised possible offer of 65p per share by McCormick, and said that, while the offer continues to undervalue the company, it is prepared for meetings to take place

Premier will meet with McCormick

The board of Premier Foods announced that it had noted the revised possible offer of 65p per share by McCormick, and said that the offer continues to undervalue Premier and its prospects.

The company went on to say that it is, however, prepared for meetings to take place in order to discuss value drivers, a review of material pensions documentation, current trading and material contracts, and so to establish whether McCormick will increase its offer price to a recommendable level. It will also be important, said Premier, for McCormick to demonstrate that any revised proposal is deliverable.

Premier said it has informed McCormick that it will be expected to provide an improved proposal following these meetings.

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